May 21, 2024 — Pure Energy Minerals Ltd. (TSXV: PE; OTCQB: PEMIF) (“Pure Energy” or “the Company”) will hold its Annual General Meeting in-person in Vancouver, BC, Canada, on June 5, 2024 at 10:00 a.m. Pacific time at Suite 2110, 650 West Georgia Street, Vancouver, BC V6B 4N8.
The Company has mailed voting materials to registered shareholders, and is providing access to the Information Circular and voting documents on the Company’s website, www.pureenergyminerals.com. We encourage all shareholders to vote, and to access the materials online well in advance of the 48-hour voting deadline of 10:00 a.m. on Monday, June 3, 2024. Please refer to the Information Circular and materials. All voting will be conducted in advance by proxy form, and no voting will occur at the meeting.
A shareholder must obtain a unique Control Number to be able to vote their shares. Non-registered shareholders who hold shares through a brokerage firm, should contact their brokers. If materials are not received, contact Odyssey Trust Company, Pure Energy’s transfer agent, who can be reached during business hours at: Canada: 1 (587) 885-0960, or Toll-Free: 1 (888) 290-1175.
Pure Energy and its partner at the Clayton Valley lithium project, Schlumberger Technology Corp. (“SLB”) focused activities in 2023 towards developing a pilot plant, at demonstration scale, for Direct Lithium Extraction (“DLE”) technology from lithium–enriched brines. Mobilization and construction of the pilot plant was completed in 2023, and commissioning, or testing, of equipment and the proprietary DLE technology was initiated. Results at the DLE plant have been very good and have more than met expectations. Drill hole CV-9 provides the brine used for testing at the pilot plant and contains concentrations of between 180 to more than 220 ppm lithium in brine. The SLB technology responds well to these concentrations. Final testing continues at this time. In January 2024, Pure Energy received an additional 5-year finite-term water right enabling brine extraction and testing to continue at the Clayton Valley project.
The advantages of DLE technology are clear, and well suited to Clayton Valley lithium brines. Of particular importance are its efficiency in recovering lithium from brine in a matter of days vs. more than a year in conventional ponds; significant recovery of precious, clean water resources for reintroduction into the valley’s aquifer; plus, a much-reduced footprint and environmental impact.
About Pure Energy
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy’s Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.
Pure Energy’s strategic partner, Schlumberger Technologies Corp. (“SLB”), is the operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (“lithium hydroxide” or “LiOH∙H2O”) and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB’s costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB’s participation, please refer to Pure Energy’s Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on www.sedarplus.ca.
On behalf of the Board of Directors,
“Joseph Mullin”
CEO, Pure Energy Minerals Ltd.
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone – 604 608 6611
Cautionary Statements and Forward-Looking Information
The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the Clayton Valley Project. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
